Cornerstone School

Analysis

Cornerstone School is a registered charity in United States, based in Stratham, NH. It received its IRS tax-exemption ruling in September 1986, 40 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Cornerstone School reported income of $2.6m and spending of $2.6m, spending 102% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $2.1m to $2.6m (+22%), an average of +4.0% a year. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornerstone School sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NH. Charities of a similar size with the same main cause include St John Bosco Academy Inc ($2.6m), Arkansas State University Real Estate Foundation Inc ($2.6m) and Catskills Hatzalah Inc ($2.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 1.8% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $113k (4.3% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $2.7m against liabilities of $441k, net assets of $2.2m. It reported 49 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.